Jalandhar News : Punjab government may increase the VAT on diesel and petrol to the

Jalandhar News : With low prices'll NDA 100 million lime
Jalandhar (Dhawan) The Punjab government on diesel and petrol to increase VAT rates is being

considered. In the international market, and with the decline in crude oil prices, the government's revenue shortfall. Government circles by the Department of Finance and Tax in the amount of petrol and diesel in view of the impending shortage began to consider an increase in VAT rates. Earlier, the government has 2 times increased VAT rates. Is believed to be the last week in petrol prices by Rs 2.50 per liter and diesel price by Rs 2 per liter in the state government for loss in the amount of VAT directly suffered a loss of Rs 100 crore . Is said that the government in the future, adding that prices of crude oil in the international market and the lower level, which may be less than $ 40 per barrel could come around. In such case the price of petrol and diesel in India may be less, the government's income will be less directly.
Tax department officials' concerns are rising. They had a year ago with the VAT applicable to petroleum products which goals were set, and in the current year was expected to sharply decline is being discussed. The price of petrol and diesel are more equally than income, VAT is achieved by the government. With the price of petroleum products fall of the government revenue is coming down. In view of these facts, not only the state but other states on petroleum products are on the rise in VAT rates.

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